The milestone is important because interoperability is now emerging as a key design goal of distributed ledger technology (DLT)...

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Axoni, based in New York, is working with a wide range of leading financial institutions and infrastructure providers to move trillions of notional value in U.S. dollars onto blockchain tech across a variety of asset classes.

Meanwhile, its partner in the demo, Clearmatics of London, is working with a consortium of banks and financial institutions to create digital fiat that is fully collateralized by cash at the corresponding central bank and transferable on a distributed ledger.

In 2017 there were reports Axoni is teaming up with IBM and R3 to work out solutions for DTCC.

What exactly Clearmatics does and what FI partners they have is a bit more difficult to grasp.

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It is another confirmation that Ripple, this time on interoperability and the IoV, is continuously some time ahead on others on future directions.

What I also think is that it should be done by an open protocol rather then by a sollution of a company. That is also why I love Interledger.

What puzzles me a little bit is why@JoelKatz was on stage on the interoperability panel at Consensus. Don’t get me wrong, David is my all time hero both on tech as on the human side, but I can imagine that Interledger having too much of a Ripple taste, for some that is a reason not to use it or to be less open for it. I can imagine that a more neutral representative could help representing Interledger specifically.

What I do like is demos. And I believe it was last year that Ripple showed a demo transferring value between 7 different ledgers using ILP. That was an amazing eye opener. Like I mentioned, Ripple is ahead of the game. My advise would be not to think in ‘been there done that’ but to keep on demoing that, especially now that the bigger audience is starting to realize the importance of interoperability.

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I can imagine that Interledger having too much of a Ripple taste, for some that is a reason not to use it or to be less open for it. I can imagine that a more neutral representative could help representing Interledger specifically.

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To my knowledge, ILP is open-sourced and while Ripple bankrolled the development of ILP early-on they have since given the W3C the reigns. So, ILP is now being spearheaded by a collaborative consortium of organizations and companies (i.e. W3C-ILP consortiumandtheWeb Payments Working Group).

On 5/17/2018 at 3:12 AM, Amigo said:

And I believe it was last year that Ripple showed a demo transferring value between 7 different ledgers using ILP.

While this was pretty amazing. What I'm most fascinated about now are the new developments/use cases for ILP. Most in the cryptosphere are hailing Ethereum as the 2nd iteration of the Internet. While Ethereum does have a very active and massive community of developers with the multitude of problems it faces around scaling, blockchain syncing, testnet setbacks, and inflated transaction costs, I just can't envision a future where Ethereum becomes the Internet 2.0 when it can barely handle all of the ICOs and Cryptokitties that plague its network. At a CSail conference, Evan Schwartz (co-developer of ILP) alluded to the possibility of ILP serving as a replacement for the Internet itself. Where ILP not only becomes the backbone for the IoV but morphs into a new platform for the exchange of Information or the Internet 2.0. As has been mentioned by Stefan Thomas, "Interledger can process TRILLIONS of TPS without any central authority." This underpins the thesis behind Schwartz's idea that ILP shouldn't be relegated to only financial transactions, but any value transfers whether they be monetary or informational.

It was determined, though that Ethereum wouldn't work, and the DTCC network was delayed, iirc. For such a big player, there isn't much clear about Axoni. I think they are a more direct competitor/analogous to R3, with the internal KYC procedures needed, but R3 was an advisor throughout. These big companies have complex workings.